This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tuesday's Financial Winners & Losers

Hilb Rogal & Hobbs (HRH) was among few financial-sector winners Tuesday, rising on an upgrade by Stifel Nicolaus to buy from hold. Shares of the Virginia-based insurance broker were up 61 cents, or 1.3%, to $46.30.

Financial stocks were largely sliding otherwise in furious trading Tuesday, caught in a larger selloff that pushed the major indices deeply into the red. Credit-services firm Moody's (MCO - Get Report) was losing $4.24, or 6.7%, to $59.33; savings bank Washington Mutual (WM - Get Report) was down $2.15, or 5.1%, to $39.75; and broker Friedman Billings (FBR) was plunging 72 cents, or 13%, to $4.82.

Citigroup (C - Get Report) slipped after the banking behemoth sweetened its buyout offer for Japanese broker Nikko Cordial by roughly 25% to $14.59 a share (1,700 yen). Nikko's biggest shareholders rejected last week's initial bid. Citigroup currently owns a 4.9% stake in the company. Shares were easing by $1.39, or 2.8%, to $48.97.

Nymex (NMX) was lower after a number of its shareholders, including General Atlantic, filed to sell 7 million company shares. The offering, which was filed pursuant to a February shelf registration, includes an underwriters' option for another 1.1 million shares. Nymex stock was down $1.97, or 1.5%, to $126.43.

Finally, the New York Stock Exchange decided to delist subprime lender New Century Financial (NEW) and, like clockwork, the rest of the sector plummeted. Accredited Home Lenders (LEND) once again took the worst beating, losing $4.24, or 62.8%, to $7.16. Fieldstone Investment (FICC) plunged $1.20, or 34.9%, to $2.24, and NovaStar Financial (NFI) was down another 87 cents, or 20.5%, to $3.37.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
C $53.07 0.00%
MCO $104.40 0.00%
WM $52.88 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs